Set during one long evening on New Year's Eve set in 1981 in New York's Lower East Village, which follows a dozen 20-something people going (but not really trying) to a New Year's Eve loft party while dealing with their life problems. They include Kevin (Paul Rudd) who doesn't look forward to the new year since his girlfriend Ellie (Janeane Garofalo) dumped him. So, his more outgoing friend Lucy (Courtney Love) persuades Kevin to have some excitement of their own. Monica (Martha Plimpton), the neurotic party hostess, worries about anyone showing up while dealing with her hip friend Hillary (Jannifer Albano) and her Irish, artist ex-boyfriend Eric (Brian McCardie). Across town, Stephie (Gaby Hoffmann) and Val (Christina Ricci) are two wise-cracking, Long Island teens who wander around SoHo after getting lost while looking for the party and end up in a punk rock club where they are befriended by two punks named Tom (Cassey Affleck) and Dave (Guillermo Diaz). Meanwhile, Cindy (Kate Hudson) is a naive and dim-witted klutz who goes out on a date with Jack (Jay Mohr) whom she had a one night stand the previous night, while he turns out to be a commitment shy lothario who hides from his many girlfrends they frequently run into. And two of Eric's former girlfriends, Kaitlyn (Angela Featherstone) and Bridget (Nicole Parker), hunt for dates for the evening and flirt with a local bartender (Ben Affleck) and a disco cab driver (Dave Chappelle) that pops up from time to time.

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